The Key Difference Between Laws and Ethics Is That Ethics

question 62

True/False

The key difference between laws and ethics is that ethics carry the authority of a governing body and laws do not.

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Definitions:

Rate of Return

The gain or loss on an investment over a specific period, expressed as a percentage of the investment's initial cost.

Interest Rate

The fee, shown as a percentage of the principal, that a lender requires from a borrower for the utilization of assets.

Purchase

The act of acquiring goods or services in exchange for money, constituting a financial transaction.

Compounded Annually

Refers to the process of earning interest on both the initial principal and the accumulated interest from previous periods on a yearly basis.